Paul knows more about this than I do. I used to do a fair amount of business in FL and remember when they started their risk pool.

Basically the DOI set the rates and benefits funded partially with premium taxes and participant contributions. The basic problem was, if the loss fund came up short the state would assess all carriers on a pro-rata basis for the losses.

Several carriers threatened to pull out of the state and some actually did.

As I recall, the fund was a money loser and had to be closed to new participants. Florida has made some attempts in the interim to come up with alternatives. The most recent one is Cover Florida which is a watered down (essentially mini-med type plan).

Risk pools are not as easy to establish and manage as some would think. Essentially you have the challenge of providing benefits for folks who cannot qualify medically and keeping the premium "affordable".

These two are mutually exclusive unless there is some kind of major subsidy from tax revenues.